Previous research suggests that people tend to discover the same opportunities in a given technological change. Austrian economics challenges these assumptions and, since the accuracy of these assumptions is important to the development of entrepreneurship theory, they are explored further. The...

At least since Arrow (1962), the effects of appropriability on invention have been well studied, but there has been little analysis of the effect of appropriability on the commercialization of existing inventions. Exploiting a database of 805 attempts by private firms to commercialize inventions...